Luminent Mortgage Capital Inc., San Francisco, has priced a public offering of 12 million shares of common stock at $14 per share.The company was formed in April 2003 to invest primarily in agency and other highly rated single-family mortgage-backed securities, Luminent said. It is externally managed and advised by Seneca Capital Management LLC and organized as a real estate investment trust. Friedman, Billings, Ramsey & Co. is the managing underwriter of the offering, and the co-managers are Credit Suisse First Boston LLC, JMP Securities LLC, and Flagstone Securities LLC. The REIT can be found online at http://www.luminentcapital.com.
-
Doxo plans to fight the FTC complaint, which focuses broadly on consumer finance, but there are signs of confusion about the company's role in mortgages too.
3h ago -
Members of the LGBTQ community were most likely to have experienced housing bias, according to a Zillow survey, which also found many people don't recognize how fair lending laws could help.
3h ago -
Senior executives making over $151,000 would still be subject to such clauses should the rule go into effect this year.
4h ago -
Christopher J. Gallo and his aide, Mehmet A. Elmas, allegedly withheld information in mortgage applications, hiding that borrowers were purchasing second home properties.
5h ago -
Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.
7h ago -
Independent mortgage bankers lost the most money ever on every loan originated last year due to higher rates and lower volumes, an industry trade group said.
7h ago